Stockholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2025

Stockholders’ Equity [Abstract]

Schedule of Stock-Based Compensation Expense by Financial Statement

The Company’s board of directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock. Of the 2,000,000 shares of preferred stock authorized, the Company’s board of directors has designated (all with par value of $0.001 per share) the following:

		As of March 31, 2025												As of December 31, 2024
		Preferred Shares Outstanding				Liquidation Preference (Per Share)				Total Liquidation Preference				Preferred Shares Outstanding				Liquidation Preference (Per Share)				Total Liquidation Preference
Series C-3			2,000			$	10.00				20,000				2,000			$	10.00			$	20,000
Series E			89,623			$	49.20				4,409,452				89,623			$	49.20			$	4,409,452
Series G			-			$	-				-				45,000			$	187.36			$	8,431,200
Total			91,623								4,429,452				136,623							$	12,860,652

Schedule of Fair Value of the PSUs Granted

The following key assumptions were used to determine the fair value of the PSUs granted during the period:

Assumption		Period 1				Period 2				Period 3
Share price		$	8.10				N/A				N/A
Equity volatility			71.2	%			69.7	%			87.0	%
Remaining term (years)			0.99				1.99				2.99
Dividend yield			0	%			0	%			0	%
Risk-free rate			4.13	%			4.20	%			4.25	%

Schedule of Condensed Consolidated Statements of Operations

The total stock-based compensation expense recognized in the condensed consolidated statements of operations for the three months ended March 31, 2025, is as follows:

Award type		Three months ended March 31, 2025				Three months ended March 31, 2024
RSUs		$	2,079,261			$	361,761
PSUs			478,969				-
Stock options			942,125				2,082,418
Total		$	3,500,355			$	2,444,179

Schedule of Stock-Based Compensation Expense by Financial Statement

The following table represents the allocation of stock-based compensation expense by financial statement line item:

Financial statement line item		Three months ended March 31, 2025				Three months ended March 31, 2024
Cost of sales		$	55,232			$	118,312
Research and development			123,819				181,113
Selling and marketing			112,736				208,530
General and administrative			3,208,568				1,936,224
Total		$	3,500,355			$	2,444,179